EID Parry's loss from sugar business widens, nutraceutical segment grows

The company's nutraceutical division has posted a profit before interest and tax of Rs 44.1 mn, as compared to Rs 11.1 mn during the same quarter of the previous year

EID Parry, a Murugappa Group company, has seen the losses from its sugar business widening to Rs 1.63 billion during the quarter ended June, compared to a Rs 132-million loss during the same period last year, due to depressed sugar prices on account of higher production.   

On a consolidated level, the operating loss on sugar operations was at around Rs 1.8 billion, compared to Rs 220 million during the same quarter last year, according to the company. However, the nutraceutical business, which the company has been growing in order to address the risks in the sugar business, has seen a